Conglomerate Chairul Tanjung Says Garuda Indonesia Will Not Extend PKPU Period

Garuda Indonesia aircraft. (Photo: Wikimedia Commons)

JAKARTA - Conglomerate Chairul Tanjung said PT Garuda Indonesia Tbk (GIAA) would no longer extend the period of suspension of debt payment obligations (PKPU). This means that on June 20, 2022, a peace scheme will be decided between Garuda and its creditors.

Previously, Garuda Indonesia had proposed to extend the PKPU period for 30 days on May 10, 2022. The founder and chairman of CT Corp himself is the owner of GIAA's shares through PT Trans Airways with 28.27 percent.

"In principle, we support the PKPU process. From the report I received, God willing, there will be no further extension. So, on June 20, the PKPU process has been terminated which binds all creditors from Garuda Indonesia," said the father of Putri Tanjung. , in Jakarta, Thursday 19 May.

Furthermore, said the man who is familiarly called CT, with an agreement with creditors later, the condition of the state-owned airline will be much better and healthier. After PKPU, it is planned that there will be a new injection from the capital market, either through a rights issue or a private placement.

"Now it's being reviewed legally, later who wants to enter has not been decided, but some of the creditors will have rights to conversion," said Chairul Tanjung.